How Was This Year's Tax Season Different from Others?

What effects did the country’s current economic situation have on your clients and your tax season?

CSCPA members seized the opportunity to sound off on the www.ctcpas.org tax season poll. Here’s what they said:

How was this year’s tax season different from other tax seasons?

Slower than usual: 8%

Pretty average: 40%

Busier than usual: 52%

“More do-it-your-selfers.”

“Large impact ... from a financial perspective (losses or lower earnings), but it also impacted CPAs as clients were slower, less staff, and dealing with more issues so our info came in later.”

“Retired clients or those close to retirement were obviously more anxious about the economy/market. Some, either on the advice of their brokers or those with more savvy, had transferred into CDs/money funds in preparation for retirement. I can’t tell you how many times I heard the joke that the 401(k)s are now 201(k)s!”

“Larger refunds due to reduced (or negative) investment income.”

“Job loss, revaluation of investments, uncertainty.”

“BAD.”

“More investment transactions (sales); more business and capital losses; refining business operations.”